“While gold’s latest steep ascent is provoking some talk of a bubble, the reasons for buying gold rather than equities or other commodities are unchanged, and risk aversion is likely to persist for as long as world leaders are perceived to be short of ideas for stimulating recovery,” a trader told FastMarkets.
The gold ETF is up 28% year to date. [Wells Fargo Warns on Gold Bubble]
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD.